[saden1]

Originally Posted by Trample the Elderly

I assume you think this is a logical decision Saden. I give up. It's not like it matters really, not to mention that it's illegal. That doesn't matter either. If you can't pick where you're going to go you might as well enjoy the ride.

Seriously, I work for a bank and we lend all day long. We have so many good loans that our underwritting department is backed up for about a month. We're understaffed and no one is in any danger of losing their jobs. I had to turn down a million dollar loan today for a condo in New York City. It wasn't good enough.

It isn't our fault that too many backs thought that SISA 3/1 ARM IO Non-owner vacation property with piggy backs were good loans to make to any Tom, Dick, and Harry that came off the street.

But hey, life is short and this is only business. So f it. I'm waiting for this guy to start running the Fed or Treasury.

You know what really bothers me? The fact that you work for a bank and you don't appreciate the scope of the problem. You cite working at a bank as a virtue but in the context of your views it really isn't.

1. Quantitative easing is a well know monetary tool. In your world it's always bad, in my world it can be good or bad depending on situation and how it is used.
2. You fail to appreciate the catch-22 situation we're in. All of this is not being done in jest, it's so we don't lose more jobs and business. In my world no easing means inability to lend money, inability to lend money results in more business tightening thier belts, more belt tightening means more layoffs, higher unemployment means higher default.
3. Can your bank handle 20% of its customers losing their jobs? For how long? Tell you what, we can even do the math but if I had to guess it wouldn't without a bailout. In my world I realize that it's not just about giving good loans, it's how employed we are.
4. The only reason why your bank is in business is because it's backed by the Full Faith and Credit of the United States Government. Period. In my world I am cognizant that your bank didn't pay any FDIC insurance premium between 1996-2006 and was therefore sucking on taxpayer tit.
5. My world doesn't consist of living in a cave pretending government inaction will yield positive results. I will defer to economists who don't think statistics are useless.
6. Finally, my world is not based on superficial knowledge of what America is and has always been, and how and why it got to where it is today.